Multifamily Industry Trends Q1 2016 - kingsleyassociates.comMultifamily Industry Trends Q1 2016 For...

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Multifamily Industry Trends Q1 2016 To request permission to use Kingsley data, please contact: Shelby Lee, Marketing Manager 770.908.1220 ext 227 | [email protected]

Transcript of Multifamily Industry Trends Q1 2016 - kingsleyassociates.comMultifamily Industry Trends Q1 2016 For...

Page 1: Multifamily Industry Trends Q1 2016 - kingsleyassociates.comMultifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee: 770.908.1220 ext 227 |slee@kingsleyassociates.com

Multifamily Industry Trends

Q1 2016

To request permission to use Kingsley data, please contact: Shelby Lee, Marketing Manager 770.908.1220 ext 227 | [email protected]

Page 2: Multifamily Industry Trends Q1 2016 - kingsleyassociates.comMultifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee: 770.908.1220 ext 227 |slee@kingsleyassociates.com

CONFIDENTIAL | Ⓒ Kingsley Associates

2 Business intelligence for the real estate industry.

Multifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee:

770.908.1220 ext 227 |[email protected]

Overall Resident Satisfaction

75.8% 75.7% 75.6% 75.4%

76.2% 76.4% 76.6% 76.7% 76.7% 76.6% 76.7% 76.7%

70%

72%

74%

76%

78%

80%

% S

atis

fie

d

Overall resident satisfaction

Page 3: Multifamily Industry Trends Q1 2016 - kingsleyassociates.comMultifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee: 770.908.1220 ext 227 |slee@kingsleyassociates.com

CONFIDENTIAL | Ⓒ Kingsley Associates

3 Business intelligence for the real estate industry.

Multifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee:

770.908.1220 ext 227 |[email protected]

Overall Resident Satisfaction by Market

75%

83% 82%

75% 73%

78%

76%

80%

76% 78%

76%

0%

20%

40%

60%

80%

100%

Atlanta Boston Chicago Dallas Denver Los Angeles Miami New York SanFrancisco

Seattle Washington,DC

Q1 2016 Q1 2015

Overall resident satisfaction by market %

Sat

isfi

ed

Change +0.6% +1.6% +3.1% -1.6% -3.1% +0.9% +0.4% -0.6% -1.5% -2.5% +1.5%

Page 4: Multifamily Industry Trends Q1 2016 - kingsleyassociates.comMultifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee: 770.908.1220 ext 227 |slee@kingsleyassociates.com

CONFIDENTIAL | Ⓒ Kingsley Associates

4 Business intelligence for the real estate industry.

Multifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee:

770.908.1220 ext 227 |[email protected]

Value for amount paid

Value for Amount Paid

57.8% 58.4% 58.4% 58.1% 56.9% 56.0% 55.1% 54.5% 53.9% 53.5% 53.9% 54.4%

30%

40%

50%

60%

70%

80%

% S

atis

fie

d

Page 5: Multifamily Industry Trends Q1 2016 - kingsleyassociates.comMultifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee: 770.908.1220 ext 227 |slee@kingsleyassociates.com

CONFIDENTIAL | Ⓒ Kingsley Associates

5 Business intelligence for the real estate industry.

Multifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee:

770.908.1220 ext 227 |[email protected]

Value for Amount Paid by Market

62% 59%

57% 57%

55% 53%

47%

53%

50% 53%

54%

0%

20%

40%

60%

80%

100%

Atlanta Boston Chicago Dallas Denver Los Angeles Miami New York SanFrancisco

Seattle Washington,DC

Q1 2016 Q1 2015

% S

atis

fie

d

Value for amount paid by market

Change +3.0% +1.2% -0.1% -2.3% +0.1% +0.5% -1.3% +2.5% -0.6% -0.8% +0.4%

Page 6: Multifamily Industry Trends Q1 2016 - kingsleyassociates.comMultifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee: 770.908.1220 ext 227 |slee@kingsleyassociates.com

CONFIDENTIAL | Ⓒ Kingsley Associates

6 Business intelligence for the real estate industry.

Multifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee:

770.908.1220 ext 227 |[email protected]

Renter Renewal Intent

54.4% 54.7% 54.9% 54.8% 53.8% 53.5% 53.4% 53.2%

52.3% 51.9% 51.6% 51.5%

40%

45%

50%

55%

60%

65%

70%

Renter renewal intent %

Lik

ely

Page 7: Multifamily Industry Trends Q1 2016 - kingsleyassociates.comMultifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee: 770.908.1220 ext 227 |slee@kingsleyassociates.com

CONFIDENTIAL | Ⓒ Kingsley Associates

7 Business intelligence for the real estate industry.

Multifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee:

770.908.1220 ext 227 |[email protected]

Renter Renewal Intent by Market

50%

58% 54%

52% 48%

51% 49%

55% 50%

52% 54%

0%

20%

40%

60%

80%

100%

Atlanta Boston Chicago Dallas Denver Los Angeles Miami New York SanFrancisco

Seattle Washington,DC

Q1 2016 Q1 2015

% L

ike

ly

Renter renewal intent by market

Change -3.2% -0.6% -4.7% -3.3% -3.2% -0.6% -2.3% -1.9% -1.8% -0.6% -0.4%

Page 8: Multifamily Industry Trends Q1 2016 - kingsleyassociates.comMultifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee: 770.908.1220 ext 227 |slee@kingsleyassociates.com

CONFIDENTIAL | Ⓒ Kingsley Associates

8 Business intelligence for the real estate industry.

Multifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee:

770.908.1220 ext 227 |[email protected]

Top Renewal Decision Factors 5

5%

51

%

35

%

30

%

32

%

33

%

26

%

21

%

17

%

56

%

53

%

37

%

33

%

32

%

32

%

26

%

23

%

21

%

0%

20%

40%

60%

80%

100%

Rental rate Location Communitymanagement

Security Communityappearance

Apartmentfeatures /

finishes

Floor plan Communityamenities

Lease terms

Q1 2015 Q1 2016

Renewal decision factors %

of

Re

spo

nd

en

ts

Page 9: Multifamily Industry Trends Q1 2016 - kingsleyassociates.comMultifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee: 770.908.1220 ext 227 |slee@kingsleyassociates.com

CONFIDENTIAL | Ⓒ Kingsley Associates

9 Business intelligence for the real estate industry.

Multifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee:

770.908.1220 ext 227 |[email protected]

Top Renewal Decision Factors – Residents LIKELY to Renew 7

0%

48

%

44

%

43

%

37

%

40

%

34

%

26

%

19

%

72

%

50

%

46

%

43

%

40

%

39

%

35

%

30

%

22

%

0%

20%

40%

60%

80%

100%

Location Rental rate Communitymanagement

Communityappearance

Security Apartmentfeatures /

finishes

Floor plan Communityamenities

Too muchtrouble to

move

Q1 2015 Q1 2016

Renewal decision factors %

of

Re

spo

nd

en

ts

Page 10: Multifamily Industry Trends Q1 2016 - kingsleyassociates.comMultifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee: 770.908.1220 ext 227 |slee@kingsleyassociates.com

CONFIDENTIAL | Ⓒ Kingsley Associates

10 Business intelligence for the real estate industry.

Multifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee:

770.908.1220 ext 227 |[email protected]

Top Renewal Decision Factors – Residents UNSURE of Renewal 6

6%

34

%

23

%

25

%

23

%

20

%

21

%

17

%

19

%

66

%

41

%

27

%

26

%

24

%

24

%

22

%

20

%

19

%

0%

20%

40%

60%

80%

100%

Rental rate Location Security Apartmentfeatures /

finishes

Communitymanagement

Lease terms Communityappearance

Too muchtrouble to

move

Floor plan

Q1 2015 Q1 2016

Renewal decision factors %

of

Re

spo

nd

en

ts

Page 11: Multifamily Industry Trends Q1 2016 - kingsleyassociates.comMultifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee: 770.908.1220 ext 227 |slee@kingsleyassociates.com

CONFIDENTIAL | Ⓒ Kingsley Associates

11 Business intelligence for the real estate industry.

Multifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee:

770.908.1220 ext 227 |[email protected]

Top Renewal Decision Factors – Residents UNLIKELY to Renew 6

0%

30

%

21

%

22

%

26

%

18

%

18

%

14

%

13

%

13

%

60

%

31

%

25

%

25

%

25

%

21

%

19

%

17

%

15

%

14

%

0%

20%

40%

60%

80%

100%

Rental rate Communitymanagement

Security Location Apartmentfeatures /

finishes

Other Communityappearance

Lease terms Communityamenities

Floor plan

Q1 2015 Q1 2016

Renewal decision factors %

of

Re

spo

nd

en

ts

Page 12: Multifamily Industry Trends Q1 2016 - kingsleyassociates.comMultifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee: 770.908.1220 ext 227 |slee@kingsleyassociates.com

CONFIDENTIAL | Ⓒ Kingsley Associates

12 Business intelligence for the real estate industry.

Multifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee:

770.908.1220 ext 227 |[email protected]

Interest in apartment features

Top 10 Apartment Features % Interested (4s and 5s) Expected Monthly Cost

High Speed Internet Access

Walk-in Closet

Soundproof Walls

Microwave

Patio or Balcony

Washer / Dryer in Unit

Refrigerator with Water / Ice Dispenser

Garbage Disposal

Ceiling Fan

Smart Thermostats $35

$31

$17

$31

$64

$52

$21

$62

$49

$35

81%

81%

83%

85%

87%

87%

87%

88%

89%

94%

Source: 2015 NMHC/Kingsley Apartment Resident Preferences Survey

Page 13: Multifamily Industry Trends Q1 2016 - kingsleyassociates.comMultifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee: 770.908.1220 ext 227 |slee@kingsleyassociates.com

CONFIDENTIAL | Ⓒ Kingsley Associates

13 Business intelligence for the real estate industry.

Multifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee:

770.908.1220 ext 227 |[email protected]

Interest in community amenities

Top 10 Community Amenities % Interested (4s and 5s) Expected Monthly Cost

Parking

Pool

Fitness Center

Recycling

Secured Community Access

Non-smoking Buildings

Green Certifications

Green Initiatives

Additional Storage Space outside of Unit

Package Delivery Room $20

$34

$31

$33

$37

$38

$26

$41

$46

$32

72%

72%

73%

75%

76%

80%

80%

82%

83%

94%

Source: 2015 NMHC/Kingsley Apartment Resident Preferences Survey

Page 14: Multifamily Industry Trends Q1 2016 - kingsleyassociates.comMultifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee: 770.908.1220 ext 227 |slee@kingsleyassociates.com

CONFIDENTIAL | Ⓒ Kingsley Associates

14 Business intelligence for the real estate industry.

Multifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee:

770.908.1220 ext 227 |[email protected]

Interest in green and healthy community amenities

Top 10 Green/Healthy Amenities % Interested (4s and 5s) Expected Monthly Cost

Fitness Center

Recycling

Non-smoking Buildings

Green Certifications

Green Initiatives

Fitness Classes

Community Vegetable Garden

Bike Storage

Car-charging Station

Bike Sharing $24

$35

$21

$35

$44

$31

$33

$37

$26

$41

18%

19%

33%

39%

59%

73%

75%

76%

80%

82%

Source: 2015 NMHC/Kingsley Apartment Resident Preferences Survey

Page 15: Multifamily Industry Trends Q1 2016 - kingsleyassociates.comMultifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee: 770.908.1220 ext 227 |slee@kingsleyassociates.com

Kingsley Solutions Business intelligence for the real estate industry

RESEARCH

• Resident/tenant satisfaction assessments

• Employee/associate engagement programs

• Broker perception surveys

• Client and investor surveys

• Portfolio performance scorecards

• Time and motion studies

The most successful firms in real estate rely on Kingsley Associates for cutting-edge business

intelligence solutions. With a depth and breadth of insight unmatched in the industry, we bring

thought leadership and exceptional client service to every engagement. Let us partner with you

to unlock the value in your organization and its relationships.

BENCHMARKING

• Compensation research

• Fund structuring and fee benchmarking

• Organizational structuring

CONSULTING

• Succession planning

• Competitive positioning assessments

• Strategic planning facilitation

Page 16: Multifamily Industry Trends Q1 2016 - kingsleyassociates.comMultifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee: 770.908.1220 ext 227 |slee@kingsleyassociates.com

San Francisco | Atlanta

Business intelligence for the real estate industry